This is big news for Target and probably a result of the huge stimulus passed by Congress. I expect things to settle down with companies like Target and Walmart once we get out of stimulus mode where the government isn’t printing so much money. For now, investors in Target like myself are benefiting.
Target Corp. reported robust quarterly sales and a jump in store visits, a sign the retailer continues to grab market share even as consumer buying habits change during the pandemic.
Comparable sales, those from stores and digital channels operating for at least 12 months, rose 23% in the quarter ended May 1 compared with the same period last year. The sales growth rate was twice as high as the same quarter last year when people rushed to buy food and household staples early in the pandemic.Wall Street Journal